A Management Information System (MIS) is a precious technology that organizations use to measure the efficiency of their business operations as well as performance of their employees. The MIS endows with thorough insight of a company and supports management for making decisive business decisions. Though the MIS provides big number of advantages, but yet it also comes with a few limitations. In this article, we will be focusing on that part of management information system.

Security

This is the very significant area of management information system and it should be well secured. All the important as well as the secret data are there stored in an MIS and which is not supposed to seen by anyone outside the company or anyone who is not authorized to do so. However, it happens sometimes and the important data gets seep out of the organization. It affects the company a lot in business and hence the companies should focus more on this security part. Let’s discuss a few ways how the security of an MIS can be broken.

Hackers: At present, a number of people who have excellent IT knowledge hack this kind of system, maybe for money or for some other purposes.

Ex- employees: In some cases, it has been seen that the account of employees are active in MIS site even after they got out from there. Sometimes, these accounts can be used for some negative purposes.

Virus: While the employees of any organization use this system, they should make sure that their operating device or computer is virus free. If the device has dangerous viruses then these can be a concern for the security of the MIS.

Server

All the data are stored in a particular server, which is also known as the hosting server. The upload time of any server cannot be 100%. It may be 90% or 99%. But, never can be the fullest. So, the site can be down for anytime. Hence, this is another limitation for management information system.

Internet

Same as server, Internet is also a part where MIS has to be dependent. If someone cannot access the net services or the weather is cloudy or maybe the user is in remote or rural area where no network is, then he or she won’t be able to get access of management information system.

So, these are a few limitations that a management information system has to over come in future. However, with having those limitations, yet it helps a lot to the organization, the down line employees and top level managers to take proper decisions for the well of the company.

For businesses concentrating only on the domestic market, they may miss out on different opportunities the international market offers. If you make a foray into the international market, you may increase your profit as well as protect your business from the negative effects of slowed-down growth. Apart from that, this will allow you to diversify your portfolio.

Among the most crucial ingredients for success in the exportation business is export trade finance. Exporters want to get paid for their products as fast as possible. On the other hand, customers from foreign markets would want to delay payment until they’ve received the products or perhaps resold these. To become competitive, your company must be capable of offering payment terms which are very attractive to possible partners.

Important Factors To Consider When Selecting The Best Financing Option

The amount of time in which the product is financed – This is considered the most important factor to consider. Experts highly emphasized that your choice of financing will be greatly influenced by how long you’ll wait before receiving the payment.

The cost of financing options – If there are several financing options to choose from, you have to look into them meticulously, most especially the interest rates. Be reminded that these costs can greatly influence the products’ price along with your potential profit.

Risks – Transactions are not created equal. There are those that are riskier than others. Experts have emphasized that the riskier the transaction is, the more you’ll find it hard to finance. Economic and political stability can actually compound or increase these risks.

Amount of orders – If you are receiving plenty of orders, your working capital might not be sufficient to meet such increased demand.

Getting Expert Help

You can actually get help from commercial banks with an international department when it comes to dealing with the export trade finance needs of your company. Choose banks that are familiar with the export business. These banks will provide your firm with a wide range of international banking services.

After finding this kind of bank, consider scheduling a visit with the international department for you to know and be aware of the different matters like your export plan, banking facilities, services, and the applicable charges. In case your partner importer fails to pay for the transaction, your business will bear the responsibility of paying for the loan. With the use of instruments like letters of credit as well as credit insurance, you and your chosen bank can greatly benefit from the improvement of the export receivables’ quality.

According to Ghiani (2004), logistics can be defined as the planning and controlling of products and information in an organization. It aims at delivering materials to a given destination for another trying to optimize a particular measure and ensuring satisfaction of a particular set of constraints. These definitions can be simplified to mean the managing of the flow of goods as well as services from the point of manufacture to the point of consumption ensuring that the requirements of the consumer are observed. Activities under logistics include information integration, warehousing, packaging, inventory, security, transportation, as well as handling of materials. Logistics compliments supply chain by add value to place, as well as time utility.

Logistics are identified in different fields due to performance value. These fields include procurement, after sales, production, disposal, as well as distribution fields. This paper will identify the areas where organizations involve logistics as well as the essence of an effective logistics to an organization.

These fields of logistics determine specific activities. Procurement logistics involve make/buy decisions, supplier and other management, as well as market research. Production logistics’ key principle is to connect procurement to distribution logistics. This field of logistics determines the capacities of production under available resources in response to distribution logistics. Distribution logistics deal with delivering of finished goods to the consumer or rather customers. Its components include processing, warehousing, as well as transportation. This logistics is most essential since the time, place as well as quantity of production vary from the time, place, and quantity of consumption.

Today, logistics have been simplified through technological advancements. Complexities which hinder effective logistics management can now be visualized, modeled, optimized and analyzed through particular simulation software. These complexities have necessitated the use of this software. Successful businesses are using this software to case the work of logistics analysis and hence providing effective strategies of managing supply and demand. Problems in logistics majorly occur in organizations that engage in product delivery but they can also occur in firms producing services (Ghiani, 2004). Examples of this include garbage collection, after sales services, as well as mail delivery, among others. Maintenance and operational cost of logistics is another hindrance of its use. Research conducted in the United Stated in 1997 proved that organizations used 862 billion dollars as the total logistics expenditure. It is hence essential for organizations to understand how to minimize logistics cost (Rushton, 2000).

Reliability and sustainability are other factors which affect the efficiency of logistics. Reliable systems as well as equipment’s should be able to perform intended purpose for the identified period under stated conditions through effective logistics. Inefficient logistics will lead to a wrong probability on performance capabilities of systems hence causing massive losses. Reliability will thus project the probability of systems and equipment in an organization (Landford, 2006).

In conclusion, the main issue under logistics is deciding how and when raw goods and finished products will be shipped, transported, and stored. This unlike other operations management is most evident in modern societies. A logistics system comprised of facilities that have been corresponded to the transportation services. Facilities include locations where goods are processed, and they include manufacturing centers, distribution centers, transportation terminals, as well as dumpsites, just to mention a few. The transportation services move goods between the facilities.

The importance of credit risk management for banking is tremendous. Banks and other financial institutions are often faced with risks that are mostly of financial nature. These institutions must balance risks as well as returns. For a bank to have a large consumer base, it must offer loan products that are reasonable enough. However, if the interest rates in loan products are too low, the bank will suffer from losses. In terms of equity, a bank must have substantial amount of capital on its reserve, but not too much that it misses the investment revenue, and not too little that it leads itself to financial instability and to the risk of regulatory non-compliance.

Credit risk management, in finance terms, refers to the process of risk assessment that comes in an investment. Risk often comes in investing and in the allocation of capital. The risks must be assessed so as to derive a sound investment decision. Likewise, the assessment of risk is also crucial in coming up with the position to balance risks and returns.

Banks are constantly faced with risks. There are certain risks in the process of granting loans to certain clients. There can be more risks involved if the loan is extended to unworthy debtors. Certain risks may also come when banks offer securities and other forms of investments.

The risk of losses that result in the default of payment of the debtors is a kind of risk that must be expected. Because of the exposure of banks to many risks, it is only reasonable for a bank to keep substantial amount of capital to protect its solvency and to maintain its economic stability. The second Basel Accords provides statements of its rules regarding the regulation of the bank’s capital allocation in connection with the level of risks the bank is exposed to. The greater the bank is exposed to risks, the greater the amount of capital must be when it comes to its reserves, so as to maintain its solvency and stability. To determine the risks that come with lending and investment practices, banks must assess the risks. Credit risk management must play its role then to help banks be in compliance with Basel II Accord and other regulatory bodies.

To manage and assess the risks faced by banks, it is important to make certain estimates, conduct monitoring, and perform reviews of the performance of the bank. However, because banks are into lending and investing practices, it is relevant to make reviews on loans and to scrutinize and analyse portfolios. Loan reviews and portfolio analysis are crucial then in determining the credit and investment risks.

The complexity and emergence of various securities and derivatives is a factor banks must be active in managing the risks. The credit risk management system used by many banks today has complexity; however, it can help in the assessment of risks by analysing the credits and determining the probability of defaults and risks of losses.

Credit risk management for banking is a very useful system, especially if the risks are in line with the survival of banks in the business world.

If you care about supporting and improving your health, and the health of your loved ones, using essential oils is a safe, effective, and natural solution that can enhance your entire life.

You Can Use Essential Oils:

For your overall physical, mental, and emotional welfare

In food preparation and cooking

As part of your cleaning routine

In the laundry

As part of your exercise routine

As part of your meditation and yoga practices

As part of your weight loss program

To eliminate odors

In your beauty routine – skin care, and make-your-own cosmetics

And much, much, more!

What Are Essential Oils?

Essential oils were mankind’s first medicine, and there are 188 references to them in the Bible.

They carry active volatile compounds in a highly concentrated form that can provide therapeutic benefits using very small amounts. These naturally occurring compounds are found in the seeds, bark, stems, roots, flowers, and other parts of plants. They provide plants with protection against predators, as well as play a role in pollination.

They are beautifully fragrant, lipid soluble (can pass right through the cell membrane), and have long been used for food preparation, beauty treatments, natural cleaning products, fragrances, and healthcare practices.

They support emotional, mental, physical, and spiritual success, and have a bio-electrical frequency that is several times greater than the frequency of herbs, food, and even the human body.

How Do I Choose The Right Oils?

When choosing essential oils, be sure they are gently and carefully distilled from plants that have been patiently harvested at the perfect moment by experienced growers for ideal extract composition and efficacy, as well as carefully and thoroughly tested using strict quality protocol to ensure they are certified, pure, and therapeutic grade.

How Do I Use Them?

Essential oils can be used a single oil at a time or in complex blends in one of three methods:

Aromatic – certain oils, when diffused, can be very stimulating, calming or soothing, as well as purify the air of unwanted odors and airborne pathogens.

Topical – essential oils are easily absorbed into the skin and can be safely applied topically alone or with a carrier oil, like jojoba or coconut oil.

Internal – most oils can be ingested as dietary supplements supporting a wide variety of healthy conditions.

If you’re new to this whole natural healthcare thing, you’re not alone. There’s so much to learn and it can be overwhelming, but the benefits are worth it.

Being open to natural forms of healthcare is the first step in taking control of your health and well-being, and using essential oils is your next step.

How to Be Sure You’re Engaging in the Right Web Development for Your Own Company Of all the things that companies today can do for themselves, it’s easy to see how a good online existence will help the most. This is because nearly all consumers are going to be turning to the internet to learn about all kinds of companies and the products that they offer. If you’re serious about finding an audience for your products and services, it’s going to be important for you to figure out how to present your company to the internet. More than anything else, companies today will need to think about how to build up a website that will allow you to represent yourself well. Because of this, you will typically want to look around for other companies that can offer you web development services. If you have a great business idea but little technical experience at website building, you will probably want to hire a company that specializes in startup web design. You’ll be able to find a great website development service in no time if you can follow the guide below. The main thing to consider when dealing with any kind of web development is finding a company that knows how to create something spectacular from the kind of basic designs that you’ve created. When you’re trying to figure out how to make your company a bit more successful, you’ll have to consider the sort of branding you have and how your website can feature it. This means you need a web development team that can understand the sort of vision you have and to make sure that you’re getting a resulting website that reflects and improves on your brand.
Questions About Businesses You Must Know the Answers To
You’ll also want to make sure that your web development team is skilled enough to make sure that you’re getting all of the various features you want out of your website. This is because of the fact that your site needs to be able to compete with some of the biggest names in the business. If you’re serious about standing apart from the crowd, it’s absolutely essential for you to think about whether your website is going to be powerful enough to give customers exactly what they want.
A Quick Overlook of Developers – Your Cheatsheet
After you’ve been able to consider the sorts of things you want your website to be able to accomplish, you will discover that there are all kinds of companies out there that can create it. You’re going to find it a lot easier to be able to improve your company’s fortunes if you can ensure that your website is strong enough to stick with the competition.

Owning real estate is a wonderful feeling, especially for those who have really toiled for many years to become a property owner. Though it might sound a little materialistic, but a property is actually a mark of someone’s hard work. Thus, when a family has to relocate to some other place far from their land or property, due to job commitment or any other reason, it is a natural concern to be worried about the property. Managing the property effectively, without keeping an eye on it regularly, is almost impossible for the landlord. This is exactly when a property owner should start looking for a professional property management company. However, it is good to know what services these property management companies offer before you go ahead and fix a meeting with any agency. This would actually give you a clear idea of what you should expect and ask for while interviewing the property manager.

Basically, these companies deal with flats, villas, independent houses, rental apartments and commercial properties. Once you sign a legal agreement with any of these companies, it actually becomes their responsibility to rent out your property by searching suitable tenants. To look for right tenants, they advertise your property through the local media. The replies that come to the property advertisement are promptly attended by the company. Their expert staff then shows the whole rental property to the prospective tenants. In fact a clear and detailed report is provided to the landlord on all those potential tenants who had come to check out the property. This is to ensure that the landlord makes a right decision. Once the tenants are finalized, then the company would execute a rental agreement.

The responsibility of the company does not end here. They collect monthly rent on the landlord’s behalf and deposit it into his bank account. Apart from the timely rent collection, the professionals would also visit the property regularly, in order to make sure that it is efficiently maintained and not harmed by the tenants. Professional photographers are hired to take the photographs of various parts of a property to be sent to the landlord. Though these visits by the property managers are periodical, they are always keen to help tenants if they find anything objectionable.

Also, in case there is a repair work to be done, the company takes care of it by appointing an external contractor to fix the problem areas. Another very important service offered by a property management agency is conducting an inventory audit. It is conducted when a property is rented out to a tenant and when he/she vacates it. The reason for conducting this audit is to make sure that all physical assets of the property are in a good condition. To summarize, the services proffered by a property management company play a pivotal role in reducing the burden of a landlord, owning multiple properties. Therefore when you actually enter into a contract with such a company and you can indeed be totally assured of getting quality services.

We must recognise that we are in Major Account Management for the long term. It takes time to manage a major account and we will only receive a payback on our investment in time if we can have a long term result. In some of the organisations we have worked with this produces a tension because the whole culture is about creating a short term sales result in which product and profit are the main drivers and measures of success. We should not underestimate what a challenge Major Account Management can be to the corporate culture. It emphasises relationship more than product, profit more than volume, and team more than individual, long term more than short term. At the same time the practical short term realities of business life need to be recognised.

One of the best ways of managing this tension is to have someone who acts as a mentor, conscience or guide to the account manager and account team. They are not involved in the day to day management of the account but are invited in to look at and comment on major proposals and presentations. Their main role is to be involved in reviewing the long term plan every few months to ensure that the relationship is as productive as possible and is reflecting the values of the organisation as a whole.

The role of the major account manager is to be responsible for the overall relationship. They influence all those involved in the account to ensure a co-ordinated, synchronised approach. The major account manager is responsible for drafting the account plan, gaining the agreement and commitment of the team and then monitoring implementation

Major Account Management Involves Relationships Not Just a Mechanical Approach:

Under this heading we should discuss three main aspects of major account management.

o The importance of relationships in Major Account Management.

o The complexity of relationships in Major Account Management.

o Mapping relationships in Major Account Management.

Importance:

In Major Account Management it is essential that we manage people as well as processes. Of course we must get the product pricing right. We need to be excellent at administration. Our customer service and product range need to be strong. But “people buy from people” and “we are in a people business”. To manage the complex range of relationships within a major account is difficult and demanding but our ability to manage relationships will define whether or not we sustain success.

Complexity:

In a reactive sale there is only one relationship – that between the seller and the buyer. In major accounts the situation is much more complex. There are often contacts going on at many levels and many locations. In one major account, we have identified 1000 relationships between the account team of ten people and individuals representing the client. But it is not just a problem of numbers, it is often a problem of politics. Some contacts do not want us to talk to people in other departments or at different levels. It can also be that the complexity is caused by product range. The users of one product rarely speak to the specifies for another product. In any complex relationship some people will like us more than others. This is to say nothing of inter-departmental tensions. All these things make major account relationships complex and we need to recognise their complexity.

Mapping:

If relationships are important and if relationships are complex then it is essential that we find a way of mapping, analysing, planning and monitoring those relationships. Over recent years we have found that an approach based on the game of chess allows a very practical way of identifying the key issues.

If we can answer these questions confidently and communicate our thinking across the account team simply and clearly then we will be half-way to success. This approach has given people across a broad spectrum of organisations a common language and way of working

It Can Only Be Done With Selected Customers:

The final word from this definition is selected. Choosing the right key accounts is of critical importance for three main reasons:

o We do not have the resources to treat every customer as a key account.

o Not every customer wants to be treated as a key account.

o Selection allows us to prioritise our activities in line with our overall business objectives.

Many organisations grade their major accounts simply by the size of sales for the year but the organisations we see that are really moving forward in Major Account Management take a number of other factors into account. They also make sure that everybody knows who the major accounts are and why they are major accounts. It is important to be rigorous with the selection criteria you use! You will also need to apply some form of weighting to reflect your priorities. The fact that a major account does not meet all your criteria will not disqualify it from being a major account. It will just need to score higher in other areas to qualify.

On the basis of this scoring, organisations can grade their accounts. They might be Premier, 1st and 2nd Division like a football league, or Gold, Silver and Bronze like Olympic medals or First Class, Club Class, Economy and Standby like an airline. The analogy of an airline is a good one because on one flight you can have people on Standby being entirely happy with the service they are getting, even though they know there are people getting “better” service in Club Class. Grading your accounts is not a matter of giving some customers better or worse service. It is a matter of giving all your customers appropriate service. When we select our major accounts and consistently deliver what we promise, we are managing our accounts professionally and effectively.

In Summary – Success Factors In Key Account Management:

o Successful Development Of The Role:

o Effective working relationships with other members of the team.

o A continuing drive to improve account team productivity.

o Management commitment to the account team’s role with opportunities for career progression.

o Re-enforcement of the role through authorised career structures, job descriptions and core training programmes.

o Ensure that the customer is presented with a coherent and professional image of your Company as a business partner.

o Secure a long term business relationship with the customer as the basis for growing business.

o Penetrate the customer’s organisation and decision making unit creating new opportunities that can be exploited to accelerate account growth.

o Understand and document, on an ongoing basis, the customer organisations strategic business direction and organisation.

o Provide the company’s senior management team with feedback on the long term growth potential in the customer’s market sector and on critical success factors for exploiting it.

o Ensure that the company’s solutions are technically solid and based on a proper understanding of the current requirements and re-inforce the customer’s perception of the benefits of the company’s market focus.

o Ensure that the company’s total resource is delivered in a way that satisfies customer requirements and supports the objectives of the account plan.

Conclusion:

An effective Major Account Management strategy depends on selecting your major accounts intelligently, creating a strong, consistent, flexible way of working with both major accounts and other customers and then implementing the plan in a disciplined, effective, efficient manner.

One of the successes of the Major Account Management programme has been the creation of common models and language that facilitate discussion and planning across units and departments. It has also stimulated a commitment for our clients to plan long term for key relationships. Major Account Management has many implications for individuals, departments and the business as a whole. It will always be demanding, but done right it will be highly rewarding

Knowledge is a resource referred to as knowledge capital or intellectual capital in a business. It is the essential element that allows businesses to operate in the market sector. The knowledge of the organization is within the human capital of the organization. Despite the rapid global changes, knowledge addresses key issues that can lead to successful management within organizations and can be used as leverage in collective bargaining of existing knowledge and creating new ones.

Understanding customers’ needs and the business environment is a huge interface of information. If a market research is done, then the knowledge of the market can be integrated to the target clients specifically in developing new products/ services and improving existing ones.

Having knowledgeable staff sets the business on a competitive edge because it helps the business run more smoothly and efficiently. For example, knowing customers’ needs and feedback to develop products or services to ensure that their needs are met.

Moreover, monitoring and reporting the changes in the business world is also needed. Knowledge in building networks by professional associations and trading partners can provide an easy way to find out what the competitors are doing and to see the latest innovations in the market sector. Making product research and development is a vital source of knowledge that can help in retaining competitive edge.

Furthermore, using knowledge more effectively can improve goods/services offered. It can increase customer satisfaction. Knowledge of the market can result better awareness of what customers want and what the staff require. Knowledge or information sharing can also improve staff productivity.

In order to manage the utilization of knowledge, there is a need to build a culture in which knowledge is valued across the business to retain the competitive advantage and understand the characteristics of the target market.

Knowledge of the business can help entrepreneurs evaluate and understand the needs of potential customers and develop products/ services that meet customer satisfaction since possible customers show different behavior patterns and preferences such as brand loyalty and the like.

Through knowledge acquisition, business supply chain management is visible everywhere and anywhere. It leads to faster growth and development. It also impacts the competitive advantage and become strategically important to understand knowledge transfer in a more predetermined fashion. The sustainability of organization depends largely on the acquisition of knowledge with a continuous learning process.

Hence, knowledge is vital to any organization because it empowers entrepreneurs to take informed decisions, improve services, produce better marketing decisions and increase profitability.

With regards to multi-entrusting a cosmetics thing – Eyeliner is the principal thing that rings a bell, joke thus a wide range of looks.

Covering is one of those cosmetics things that highlights and hoists the most essential element of your face and can offer you the correct look that you require on a day when you are running shy of time. There is undoubtedly in this that eyeliner is an unquestionable requirement to convey in your handbag and one can’t do much without it.

Winged Tip

Wearing your eyeliner thusly will give you a dazzling look as it is exceptionally well known these days. It gives your eyes an exceptionally very much characterized look alongside giving it a glitz touch. There are numerous instructional exercises through which you can without much of a stretch figure out how to get the winged tip.

White Liner

White liner is an unquestionable requirement to convey for a young lady. This in vogue eye liner can add such a great amount of glitz to your eye cosmetics that you wish you got your hands on it some time recently. The most ideal approach to utilize it is by applying it on the lower waterline to give your eyes a more extensive look. This look can likewise be utilized when you haven’t rested soundly it will give your eyes a very much refreshed look.

Straight As An Arrow

Wearing your eyeliner straight as a bolt can make your eyes look normal and more. Attempt this look as it will make an outwardly stunning look in simply some basic strides. To begin with you have to make a diagram and afterward fill in the space. When you are finished filling in the space then take a liner pencil and draw towards the inward side of your eye to get this total shocking look. You can attempt this look on night dresses and pretty sarees in the event that you are going to a wedding.

Smokey Eyes

There is something exceptionally cheeky about the smokey eye cosmetics. The smokey look make your eyes look grunge and sultry. To get this look you don’t need to do a ton all you need is to apply a thick line of Kohl pencil and smirch it. There are numerous video instructional exercises on the web, locate the one that is most simple for you.

Sparkle Liner

Sparkle liners never left form, who said they did? Well the uplifting news is they are still in pattern, so snatch your most loved sparkle hues. The sparkle liner will energize your look and change you from a working woman into a chic ruler. There is no hard science in utilizing it; you can apply it in an indistinguishable path from you would have finished with ordinary eyeliner. In any case, recall on the off chance that you are wearing sparkle liner then don’t wear any gaudy adornments.

Shaded Liner

In the event that you are no longer in a disposition to utilize a similar dark exhausting eyeliner, stress not. We got a decent option for you; they are such a variety of shading liners that can add an exemplary touch to your eye cosmetics. You can pick any shading you like, from pastels to strong or metallic hues.

Double Eyeliner

There is another look in the town; I trust you have caught wind of it. This new look joins of two hues, to get this look apply your dark liner first and after that “glitz up” this look with another shaded liner. Keep in mind when you apply the second liner apply it in a thin line, this will give it an incredible look and will make your eyes a moment consideration catcher.

Feline Eyes

Feline eyeliner look has turned out to be entirely in vogue nowadays and you can even get them with ordinary eyeliner. On the off chance that you are a successive eyeliner buyer then you will have no issue in getting this look. Begin by applying the liner in easygoing style, however as opposed to making the flick of the eyeliner with a dark pencil utilize a metallic shade pencil to make the flick. On the off chance that you don’t care for metallic shades than go for the sparkle liner.

Go Black and White

High contrast is the most tasteful hues ever, and on the off chance that you truly need a sensational and strong search for your eyes then I prescribe you to play with highly contrasting. This is an impressive eye search for night gatherings and suppers and will dependably give you a stylish look.